After last years abysmally low number of home sales, some people will be glad to know that sales have climbed.
Unfortunately that hasn’t done anything for prices.
The REBGV has released their october stats package and the composite benchmark price for all properties has actually dropped slightly from where it was a year ago, dipping a tiny half a percentage point.
The Province see this as a big rebound for the most expensive real estate market in Canada.
California actually has jobs that can afford you a $65 million house
Can anyone find me a ‘dump’ in Vancouver costing more than this property in Laguna Beach, CA???…Or ANY property for that matter. LMAO ???
http://www.zillow.com/homedetails/2585-Riviera-Dr-Laguna-Beach-CA-92651/61641721_zpid/
Richmond Detached Price Index 3-year Trend (-10% vs 2011/12 peak)
http://www.rebgv.org/home-price-index?region=Richmond&type=Detached&date=2013-10-01
When are we going to hear from the OSFI?
It’s time to regulate.
http://www.youtube.com/watch?v=1plPyJdXKIY
Great boobies honeybun, my lower intestine is full of HAM, egg, HAM, bacon, HAM, tomato, HAM …
and the Vikings sing HAM, HAM, HAM, HAM, HAM …….
Is anyone else just scrolling past comments that have more than 5 mentions of the acronym “HAM”? Sometimes, just a single mention does it for me, too.
HAM effect is local. I am not talking about Delta or even Richmond, only Vancouver West. 100% purchase by HAM may be a bit extreme, but I think 90% is too low. All sales are through Chinese realtors, or by Chinese buyers.
I like the comparison of HAM to dead green aliens for some reason.
/dev/null #56 said: “Your claim isn’t absurd (or unfalsifiable) like those examples but still you can’t just claim you’re correct until MF proves you incorrect.” This whole discussion on HAM and proof is kind of silly. Is anybody seriously saying that HAM does not exist? I thought the debate was about the extent/magnitude of HAM, not whether or not it exists. It is much harder to prove that something does not exist than to prove that it does exist. HAM is an emotional topic so let’s think about little green aliens for a second. All it takes to prove the existence of little green aliens is one physical example of one. For example, if someone had a dead body of a little green alien that wasn’t a hoax then that one body would prove the existence of little green aliens.… Read more »
Twitter up 73% on the first day of trading. Bears that is a bubble. RE is rock solid.
@69: “Yeah, and how’bout this North Vancouver dump for 2.2 mill!”
And it has a basement suite! Betcha that place in Malibu doesn’t have one!
And… TRADES WILL BE CONSIDERED!!!
New Listings 182
Price Changes 65
Sold Listings 91
TI:15871
# 61.
71 mill. In 12 years from now.
I hope they have written an inflation clause into the contract.
Otherwise, with the coming hyperinflation, 71 mill will just buy a loaf of bread.
Are you seriously positing that every single October SFH buyer in Vancouver West was HAM?
Of course that’s an absurd statement, and doesn’t require much in the way of evidence to disprove.
On the other hand, it’s just as silly to say that HAM has had zero effect on Vancouver housing prices, a claim made by many on this forum with equally scant justification and equally weighty evidence to the contrary.
As I’ve said many times before, HAM certainly has affected local prices; it’s just a matter of how big that effect has been. And without any real data, which we sadly don’t have, the whole argument is little more than a pissing match.
#68 Yeah he’s only written 52 book’s and is a member of The Order of Canada among many accomplishment’s .
Yeah, and how’bout this North Vancouver dump for 2.2 mill!
http://www.realtor.ca/propertyDetails.aspx?propertyId=13461833&PidKey=-1467013348
….IF any of you bulls are going to purchase real estate in Vancouver you better read what David Suzuki has to say about Fukishima Nuclear Plant and the evacuation of the west coast of North America….
I’d like to read what he has to say but I find it difficult to see through my tinfoil hat.
IF any of you bulls are going to purchase real estate in Vancouver you better read what David Suzuki has to say about Fukishima Nuclear Plant and the evacuation of the west coast of North America.
Many Franks Says:
November 7th, 2013 at 11:51 am 51
Are you seriously positing that every single October SFH buyer in Vancouver West was HAM?
Yes, but I am hoping one realtor will prove me wrong.
one of the comments in that Flaherty article. what do you think?
“Higher rates put a nasty squeeze on what banks pay to rent funds and what they can charge. i.e. the spread narrows to near nothing. On top of that, the banks experience more loan losses in a high rate environment because more borrowers can’t service the debt they take on, and the collateral underpinning the bad loans collapses in value.
What we have today is nirvana for the financial industry- near zip to rent funds, lots of anxious irrational borrowers, loan insurance backstopped by taxpayers and turning around and making 4% on mortgages and 2% to 3% riskless profit on government bonds.”
# 63
“Flaherty is closely watching the condo market”.
And if he’s watching them at night, he’ll notice that many of them are empty.
Jim Flaherty says interest rates are heading higher regardless of central bank actions
Nov 7, 2013
Interest rates are going to go up over the long term regardless of what central banks do at the moment, Finance Minister Jim Flaherty said on Thursday after the European Central Bank unexpectedly trimmed rates.
Last week, Canada’s federal housing agency reduced its forecast for housing starts for 2014.
Flaherty said the government was closely watching the condo markets in Montréal, Toronto, Vancouver and Calgary.
“We have to be careful that we don’t get an artificial increase in prices, a bubble, because of speculation.”
@61 Snake: In 2025. ~$500/day x 48,000 attendees; that’s a remarkable 12 year prognostication from Tourism Vancouver. Why that skill isn’t leveraged against the Twitter IPO instead is a mystery.
1) Vancouver lands the biggest conference in the city’s history and a $71-million boon to the local economy
http://www.bcbusiness.ca/tourism-culture/aa-convention-comes-to-vancouver utm_source=MagMail&utm_medium=BCBusiness+Newsletter&utm_campaign=BCBusiness+enewsletter+07Nov2013
Wow,
What’s going on in Steveston?
6 new house listings in the last 3 days.